Name
Bank draft of three east-China provinces (Jiangsu, Zhejiang and Anhui province) and one municipality(Shanghai)
Introduction
It is an instrument drawn by the issuing bank within the scope of a designated area according to customers' application, directing the bank to make unconditional payment to the payee or the bearer upon presentation of the draft, based on the actual settlement amount.
Features
1. The draft belongs to the person who carries it. It is available anytime and anywhere, and will be immediately paid with the draft in hand.
2. Within the area of transfer draft, the agent paying bank makes the payment if the draft is in customer's hand.
3. When the draft is presented for cross-system payment, it is directly connected to the system of the issuing bank, and the payment can be made safely and arrive according to real time.
Scope of Application
It is applicable to corporate customers or individual customers within Jiangsu province, Zhejiang province, Anhui province and Shanghai for various kinds of payment settlements.
Process
1. The applicant should fill bank draft application form, with the seal which is reserved in the account-opening bank affixed on it;
2. Upon the bank's approval, the draft is drawn and delivered to the applicant together with customer's payment receipt;
When the customer is applying for cash order, both the applicant and the payee should be individuals and cash must be deposited;
3. The applicant delivers the draft to the payee whose name has been written on the draft; the payee may endorse and transfer this draft to the endorsee.
During the endorsement, the endorsee's name and endorsement date should be written by the payee or endorser on it and the seal should be affixed on it;
4. The payee (the bearer) honors the draft with the draft and bank deposit receipt in the account-opening bank, and should sign his/her name and affix the seal in designated area on the back of draft. The signature and seal must be identical to the ones reserved in bank.
Kind Reminder
1. The validity period of this bank draft is one month; please carry out the payment procedure before the expiry day.
2. The bearer shall properly keep the bank draft and avoid damages to the surface due to breakage or water scrubbing.
3. Those who lost the draft should immediately report the loss to Bank of China and apply for the procedure of loss report and payment suspension.
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